Their are a bunch of factors that go in to purchasing a home. I'm sure you've heard "Location, Location, Location". But you also need to figure out what you qualify for and, more importantly, what you feel comfortable paying monthly.
QUALIFYING DOES NOT EQUAL COMFORT LEVEL!
People refinance for many reasons. One of the main reasons is to lower their interest rate in order to save money on their monthly mortgage payments.
The other reason is to consolidate a bunch of debts in to one manageable monthly payment.
Let's sit down and discuss if refinancing makes sense for you!